As the new school year begins we turn our attention to the youth.  In this month's issue we focus on ways to involve the next generation, from in-school student branches to college internships, even involvement in the board room.  We also share how NCUA is encouraging young adult contributions within the agency through our internship program and within the industry with our student internship grants.  Invest in the next generation and reap the benefits of exchanging knowledge, building a new member base and strengthening the credit union system!

1. Pushed back the filing deadline to the fourth Friday of the month following the end of the quarter,
2. Sends a broadcast email reminder of the deadline date via CU Express during the week of the deadline,
3. Created a seven minute instructional video "How to Successfully Submit Your Call Report", click here to access the video,
4. Sends email reminders one and two days before the deadline to credit unions that have not successfully uploaded their Call Report, and
5. Introduced email confirmation noting the time and date of successful submission.   

With funding from NCUA's internship grants, this summer 54 credit unions enhanced their operations while exposing youth and young adults to credit unions. Israel Methcomm FCU, a $1 million credit union located in Chicago, used its $4,000 grant to hire 12 interns. Among other things, the interns helped promote credit union services, revised the loan application, and researched best CD rates. For the majority of the interns, this was their first opportunity to gain professional work experience, and for some, it was their first exposure to credit unions.  Below are a few comments from the interns:

The IMFCU (Israel Methcomm Federal Credit Union) is a work and learn experience... it allows you to challenge your learning skills. - Hans

I look at money in a more conservative light because of my experiences here. I have put my work, my time, as well as my effort into the credit union, and vice versa...  If I had the choice to experience this all over again, I would do it a thousand times over... ­- Jeremy

We learned/enhanced our computer and office skills, as well as learned how to better work in groups. We not only have more office knowledge and money, but we also have more work experience. This is a great program for all youth, and I would recommend membership of this particular credit union to anyone.- Kris

Working at the Israel Methcomm Federal Credit Union was a great benefit to me because I was able to have my first real job where I was paid. This also was a benefit to me because I experienced how to work well with others.- Mya

I not only got a taste of how it feels to have a real job, I also learned a lot about the financial side of work and about credit unions in general. This has been an experience I'll never forget. - Jonathan

Engaging youth in the credit union movement is essential! Doing so not only helps sustain the credit union system, but also helps the next generation learn and practice key financial skills they'll need in adulthood. What better place to reach youth than where they spend a great deal of time: at school. One way is through an in-school credit union branch.

In-school credit union branches can be mutually beneficial to participating students and credit unions. They provide hands-on experience for students to learn the value of saving, goal setting and key money management skills. Because in-school branches are often "student-run," they provide practice in employment skills and supplement the school curriculum.  For the credit union, in-school branches can provide a foundation for membership stability, a future source of loans and increased community partnerships.

The Michigan Credit Union League's Financial Education Committee created the Credit Union School Branch Handbook, a comprehensive guide that provides step-by-step guidance, advice, and materials for setting up an in-school branch. Written by credit union financial educators with experience in successfully running in-school branches, the Handbook features chapters on establishing a partnership for education, setting up and marketing an in-school branch and an extensive appendix with sample forms and documents.  It not only provides useful guidance for credit unions considering an in-school branch, but the Handbook also offers new ideas and best practices to those already operating in-school branches.   

For information about the Handbook, contact Beth Troost, Financial Education Manager, Michigan Credit Union League and Affiliates, and Executive Director, Michigan Credit Union Foundation at [email protected] 

Other

Filene Research Institute seeks responses to improving credit union board renewal survey. Filene and the University of Toronto have partnered to research the processes and structures used by U.S. credit unions to ensure effective renewal of directors on their boards of directors.  Both U.S. and Canadian credit unions are asked to participate in a survey, click here. Responses are due September 24; one response per credit union.

 Corporation for Enterprise Development Releases Highlights and Next Steps from the 2014 Children's Savings Conference:  From Aspirations to Achievement: Growing the Children's Savings Movement outlines key Conference takeaways and new directions for scaling children's savings.